KPMG Catching Up On Capitol Hill

Legislative priorities always exceed legislative bandwidth. September is no exception with a crowded legislative schedule. What's the impact on the tax agenda?

This episode of Catching Up on Capitol Hill covers what Congress might realistically do in 2026 and if it will include tax measures. The calendar has turned to 2026, so does that mean we could have a new tax bill on the horizon? And if so, what might be left to do in the wake of 2025's One Big Beautiful Bill legislation? Listen as John Gimigliano, Tom Stout, and Jennifer Gray look at what, when, how, and how likely a tax bill might be this year.

Washington can't stop talking about the recently proposed HIRE Act. The bill would impose an excise tax on certain payments to foreign service providers - in effect a tariff on many imported services. Should the tax community take this bill seriously? Listen as Jennifer Acuna and Dan Winnick join John Gimigliano to break down what the bill does, what its policy goals might be, and whether it could be signed into law any time soon.

Another tax bill is coming. We know this because another tax bill is always coming - but how soon, and what might be in it? It's really never too soon to ask that question. Listen as John Gimigliano, Jennifer Gray, and Tom Stout revisit the list of items that did not make it into OB3 and look forward to what might in the conversation when Congress gets takes up the next piece of tax legislation.

With surprising speed, Congress passed the One Big Beautiful Bill legislation in time for a 4th of July enactment. This comes as a relief to many, but not to all. Listen as John Gimigliano, Jennifer Acuna, and Dan Winnick break down first thoughts on winners and losers under the new law.

The House of Representatives managed to pass its version of the tax cliff legislation, calling it One Big Beautiful Bill. But will it be big enough or beautiful enough for the Senate? We may find out soon as the upper chamber is now poised to produce its own version of the bill. Listen as John Gimigliano, Jennifer Gray, and Tom Stout explore what parts of the House bill could be subject to changes in the Senate and how those changes get reconciled with the House.

We finally got legislation from the House and, true to their word, the Ways and Means Committee included a new provision designed to retaliate against perceived 'unfair taxes' in other jurisdictions. Listen as John Gimigliano chats with Danielle Rolfes and Alistair Pepper as they explore the what, the why, and the how of the House bill's proposed new Section 899.

Covering 60 minutes of crucial tax topics, focusing on the Tax Cliff 2025 and what taxes might be on the table this year.

The House recently muscled a sprawling budget through that chamber, setting up the possibility of a tax bill via budget reconciliation this year. Meanwhile, the Senate moved a much less ambitious budget that does not contemplate taxes. Are the House and the Senate on the same page, or more importantly can they get there? Listen as John Gimigliano, Jennifer Acuna, and Dan Winnick discuss what the House budget says about a tax bill and whether the Senate is even listening.

The budgetary math for a 4 trillion dollar tax cliff is daunting. But what if the accounting is wrong and the cliff isn't really a cliff at all? It may sound too good to be true, but this is a point many lawmakers on Capitol Hill are making. Listen as Jennifer Gray and Tom Stout join John Gimigliano to discuss the concept of current policy baseline and how that idea could dramatically alter the legislative landscape for taxes in 2025.